Avestar Capital LLC Sells 949 Shares of Airbnb, Inc. (NASDAQ:ABNB)

Avestar Capital LLC lessened its stake in shares of Airbnb, Inc. (NASDAQ:ABNB) by 12.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,890 shares of the company’s stock after selling 949 shares during the quarter. Avestar Capital LLC’s holdings in Airbnb were worth $874,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP raised its position in Airbnb by 183.4% in the third quarter. Quantbot Technologies LP now owns 27,777 shares of the company’s stock valued at $3,522,000 after purchasing an additional 17,975 shares during the last quarter. D.A. Davidson & CO. increased its position in Airbnb by 2.1% in the 3rd quarter. D.A. Davidson & CO. now owns 31,575 shares of the company’s stock valued at $4,004,000 after acquiring an additional 650 shares during the period. Private Trust Co. NA increased its holdings in Airbnb by 9.9% in the third quarter. Private Trust Co. NA now owns 1,121 shares of the company’s stock valued at $142,000 after purchasing an additional 101 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Airbnb during the 3rd quarter worth about $67,000. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Airbnb by 46.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 20,714 shares of the company’s stock valued at $2,627,000 after buying an additional 6,546 shares during the last quarter. Institutional investors own 80.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ABNB shares. Jefferies Financial Group raised their price objective on Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Sanford C. Bernstein reduced their price objective on shares of Airbnb from $174.00 to $155.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Benchmark reiterated a “buy” rating and set a $155.00 price target on shares of Airbnb in a report on Friday, November 8th. UBS Group upped their target price on Airbnb from $134.00 to $144.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler lifted their target price on Airbnb from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Airbnb currently has a consensus rating of “Hold” and a consensus target price of $138.97.

Airbnb Price Performance

Airbnb stock opened at $139.67 on Wednesday. The stock has a market cap of $88.55 billion, a P/E ratio of 49.01, a P/E/G ratio of 1.95 and a beta of 1.15. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average price is $133.55 and its two-hundred day moving average price is $135.45. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Airbnb had a return on equity of 32.88% and a net margin of 16.96%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the business earned $2.39 earnings per share. On average, equities analysts predict that Airbnb, Inc. will post 4.02 earnings per share for the current year.

Insider Buying and Selling at Airbnb

In other Airbnb news, CEO Brian Chesky sold 230,769 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total value of $27,692,280.00. Following the completion of the transaction, the chief executive officer now owns 13,315,912 shares in the company, valued at $1,597,909,440. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $120.00, for a total transaction of $750,000.00. Following the completion of the sale, the chief financial officer now owns 537,072 shares in the company, valued at $64,448,640. This represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 641,094 shares of company stock valued at $81,077,447 over the last three months. 27.83% of the stock is currently owned by insiders.

Airbnb Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.